This PM Tip Sheet is a case study on prioritizing projects.
As a rule, the prioritization process is about agreeing on the criteria that influence priorities as a precursor to actually setting the project
priorities themselves. Said another way, it is better to agree on the criteria that go into prioritizations, because once that has been accomplished, the priorities, as this case
demonstrates, tend to take care of themselves.

A case study in establishing priorities.

In this case study, a company that has employees in eight locations has downsized its workforce and needs to reduce its real estate and rental holdings. Their
first step will be to establish prioritization criteria for which facilities should be kept. The key criteria for this real estate management project, where each real
estate holding was a "project," will be found at the column headings and are explained as follows:

One consideration is whether the facility is rented or owned (see column "B" in the table below. Occupancy would be another issue. Some buildings held
350 employees and contractors, others hold less than 50. Prioritization should be straightforward at this stage if ownership and occupancy were the only
criteria. Owned buildings with fewer than 50 employees would be "A" priorities for cutbacks; high occupancy owned space would have a low priority for
release; and rented low occupancy space would be on the margin.

But some buildings had special labs that would be too expensive to relocate. Some were occupied by powerful VPs who didn't want to move. Some leases
on the company's rented properties were about to expire. Some facilities were located away from the main campus of buildings, so they became "A" priorities to discontinue.

The company used a simple spreadsheet as a decision making tool.

In most cases the priorities will determine themselves. In this example, buildings #2 and #
8 were obvious candidates. The powerful VP in Building 8 was
eager to move back from what she perceived as the outlands. Building #2 was owned, but part of it had been leased and that lease was due to expire. The
tenant would only renew if more of the building's space became available.

In some cases, project prioritization can become subjective and emotional, but in most cases laying out options, as shown here, diffuses emotional objections
with common sense. Find more about prioritizing projects in this TipSheet on recession-proofing projects.